Oil ends above $75 as stocks rally, dollar falls

MomingZhou

NEW YORK (MarketWatch) -- Crude futures rose Wednesday for a fifth straight session, ending above $75 a barrel for the first time in one year as upbeat earnings reports from U.S. companies lifted stock markets and boosted sentiment in energy trading. Also helping crude, the weakness in the U.S. currency attracted buyers to dollar-denominated commodities. Crude oil for November delivery gained $1.03, or 1.4%, to $75.18 a barrel on the New York Mercantile Exchange, marking the highest settlement level for a front-month contract since October 2008.

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